In Good Companies

Can your business survive without you? Can it thrive? Together we’ll cover the key aspects of a business succession plan, like proper valuation provisions and operational redundancy, and how corporate governance structures can help you achieve those goals.

Show Notes

Those who’ve started a business know: the business is your baby. It takes love, patience and sleepless nights to get it on its feet. As it grows, you’re so proud of it. But just like a child, there comes a time when you have to let the business go. And the hope is that you’ve prepared your business to function independently, without your guidance. Can your business survive without you? Can it thrive?

Whether it’s by design or unexpected, there will be a day when you’re no longer able to run things as you once did. If you’ve prepared right, your business will be able to keep flourishing long after you’ve retired. But what does that preparation entail? It starts with a strong business succession plan, an area of expertise for our two guests on this episode: Ari Marin, Wealth Strategist at Cadence Bank, and Eric Priamo, founder and managing partner of Juniper Equity. 

Together we’ll cover the key aspects of a business succession plan, like proper valuation provisions and operational redundancy, and how corporate governance structures can help you achieve those goals. Ari and Eric will also lead us through how to tackle the hard, emotional conversations that come with succession.

So join us as we write a new chapter: for your business, your family, and you.


Highlights:
  • All the variables in a succession scenario (3:08)
  • Why is succession planning critical? (4:49)
  • What can happen if there isn’t a plan in place (7:11)
  • The biggest barrier to the planning process (10:24)
  • How to avoid family drama when talking succession (12:28)
  • The farmer, the cow, and the milk: Identifying your goals (15:52)
  • How Ari starts a succession plan (16:56)
  • Keys to a good plan: Proper valuation provisions (18:33)
  • Keys to a good plan: Flexibility & Redundancy (20:17)
  • The tax tail can’t wag the dog (23:35)
  • Defining corporate governance (24:54)
  • How corporate governance helps you achieve your succession goals (28:18)
  • How to empower your advisors (32:56)

Links:

Feedback:
If you have questions about the show or topics you'd like discussed in future episodes, email our producers, sheena.cochran@cadencebank.com or danielle.kernell@cadencebank.com. 

What is In Good Companies?

Starting and running a business or managing one isn’t for the faint of heart. You’re balancing internal and external forces in a continually changing landscape. You’re building strategies, and banking on the future – no matter what it holds. This is where Cadence Bank’s In Good Companies comes in. We share our wealth of knowledge, and insights from noted industry experts, to guide you through the forces shaping business today.

We’re back for Season 6, and this time, we’re setting our sights on the future of work. We’re asking the big questions, like:

What will your career look like in 2030? Or 2050, even?
How is ESG shaping the future of companies?
And how can we leverage AI to our advantage?

We bring together experts from across the board, from Silicon Valley to multinationals like EY, to help you stay on the cutting edge of business. And we get to know those who are building the future of our companies; because at Cadence Bank, we want to hear the human side of every success story.

Hosting our stellar range of guests this season is our new host, Ari Marin. He is a Cadence Bank Senior Vice President and family enterprise advisor, whose specialty is consulting with family-owned and small businesses. Ari’s idea of “good company” is being around creative, insightful people with unique and inspirational stories. For Season 6, he brings in his curiosity and ambition to In Good Companies, to lead discussions with our guests, and bring listeners across the U.S. all the information they need, in one place, in under 30 minutes.

Ready to launch into the future? Then join us!